Paul Hastings Advised Kakao Corp. in its Issuance of Convertible Bonds

May 07, 2024

Paul Hastings LLP advised Kakao Corp. on its issuance of Convertible Bonds due in 2029 on April 29, 2024. The offering was conducted in reliance on Regulation S of the U.S. Securities Act of 1933, as amended. The Bonds were listed on Singapore Exchange Securities Trading Limited. UBS AG Hong Kong Branch acted as the sole manager and bookrunner.

Kakao Corp. operates Korea’s leading mobile platform, Kakao Talk, as well as other leading online platforms in Korea, including the Internet portal Daum and the online music platform Melon. Kakao Corp. utilizes these leading platforms, along with its other platforms developed using its major brands, such as Kakao T, Kakao Pay and Kakao Webtoon, to provide users and advertisers with a diverse and extensive array of products and services.

The proceeds of the Bonds will be used for acquisitions of, and investments in, other companies or businesses in the technology industry, as well as for general corporate purposes.

Corporate partners Dong Chul Kim and Iksoo Kim led the Paul Hastings team, which also included associate Sye Myung Kim and corporate attorney David Park. The team also include London partners Mei Lian, Sindhoo Vinod Sabharwal, and Max Kirchner.

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